Industry News: Demand For EVs As Rentals Are Dropping
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William Maley, in Industry News
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By William Maley
We've known for some time that both Tesla and General Motors would soon be reaching the 200,000 sales mark for electrics, meaning that $7,500 tax credit would begin phasing out. Yesterday, we reported Tesla cut prices on their 2019 model year vehicles to soften the blow. But what about GM?
A source told Reuters that GM hit the 200,000 model milestone during the fourth quarter of last year - most likely happening in December. This begins the 15-month phase-out which will see the credit drop to $3,750 in April, $1,875 in October, and then disappear next April. GM declined to comment about this, but we're likely to find out later this morning as the company will be announcing fourth-quarter sales.
Source: Reuters
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By William Maley
We've known for some time that both Tesla and General Motors would soon be reaching the 200,000 sales mark for electrics, meaning that $7,500 tax credit would begin phasing out. Yesterday, we reported Tesla cut prices on their 2019 model year vehicles to soften the blow. But what about GM?
A source told Reuters that GM hit the 200,000 model milestone during the fourth quarter of last year - most likely happening in December. This begins the 15-month phase-out which will see the credit drop to $3,750 in April, $1,875 in October, and then disappear next April. GM declined to comment about this, but we're likely to find out later this morning as the company will be announcing fourth-quarter sales.
Source: Reuters
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By William Maley
It is no secret that Bentley is working on an electric vehicle. What has been unclear is when said vehicle is expected to launch. Recently, Automotive News Europe had a sit-down with Bentley CEO Adrian Hallmark where he revealed that electric cars are seen "as another growth opportunity in a five- to 10-year period." Why the long period?
"The problem is, with the size of our vehicles and the frontal area we push through, current battery-power density limits the size of the car with a credible driving range. The Jaguar I-Pace is the perfect-size car for the battery technology, but it’s too small for us. It’s all driven by power density of the battery, but there’s nothing industrialized in the supply chain before 2023-2024-2025. Only then does it open up the size of the vehicle and the category you can make a credible battery-powered car," said Hallmark.
Hallmark wouldn't say what Bentley's full-electric vehicle would look like, but past rumors point to the possibility of the Mulsanne replacement of going full EV.
Bentley knows that it needs an EV sooner or later. Hallmark said 40 percent of Bentley customers would consider buying an electric vehicle. Also, a set of possible Bentley customers, "the upper liberals and the post-moderns" are trending towards Porsche and Tesla models.
Source: Automotive News Europe (Subscription Required)
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By William Maley
It is no secret that Bentley is working on an electric vehicle. What has been unclear is when said vehicle is expected to launch. Recently, Automotive News Europe had a sit-down with Bentley CEO Adrian Hallmark where he revealed that electric cars are seen "as another growth opportunity in a five- to 10-year period." Why the long period?
"The problem is, with the size of our vehicles and the frontal area we push through, current battery-power density limits the size of the car with a credible driving range. The Jaguar I-Pace is the perfect-size car for the battery technology, but it’s too small for us. It’s all driven by power density of the battery, but there’s nothing industrialized in the supply chain before 2023-2024-2025. Only then does it open up the size of the vehicle and the category you can make a credible battery-powered car," said Hallmark.
Hallmark wouldn't say what Bentley's full-electric vehicle would look like, but past rumors point to the possibility of the Mulsanne replacement of going full EV.
Bentley knows that it needs an EV sooner or later. Hallmark said 40 percent of Bentley customers would consider buying an electric vehicle. Also, a set of possible Bentley customers, "the upper liberals and the post-moderns" are trending towards Porsche and Tesla models.
Source: Automotive News Europe (Subscription Required)
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By William Maley
Volkswagen is planning a lineup of electric vehicles which include a hatchback, crossover, and small van. But a new report says the German automaker has ambitions to launch an electric vehicle with a pricetag of about 18,000 euros (about $21,000).
Sources tell Bloomberg the model in question will be a subcompact crossover and begin selling sometime after 2020. According to Reuters, the model is currently known as "MEB entry". Volkswagen is planning a production volume of 200,000 vehicles that will take place at three factories. This vehicle hasn't been approved by Volkswagen's supervisory board. According to sources, a discussion on the vehicle is expected to take place during their next meeting on November 16th - the same meeting that is reportedly where a discussion on possible expanding their partnership with Ford is expected to take place.
Sources also mentioned another electric model, the I.D. Aero. The midsize sedan and wagon would be built at Volkswagen's Emden plant in Germany. Emden is currently home to the production of the European Passat sedan and wagon, but sources say production of the model would move to the Czech Republic in 2022. Having the Aero take the Passat's place would help keep jobs at Emden.
Volkswagen declined to comment.
Source: Bloomberg (Subscription Required), Reuters
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